Trying to scare us? Well, it is the UK media after all.

[seanocelt]

Read this and weep. http://www.telegraph.co.uk/news/politics/8917077/Prepare-for-riots-in-euro-collapse-Foreign-Office-warns.html


Lets hope its just them trying to sell papers!!

[Angusjim]

Read this and weep. http://www.telegraph.co.uk/news/politics/8917077/Prepare-for-riots-in-euro-collapse-Foreign-Office-warns.html


Lets hope its just them trying to sell papers!!

Its usually the Daily Mail who have stories like this, Telegraph must be trying to woo the doom merchant readers away from the Mail

[beerfan]

Lets hope its just them trying to sell papers!!

You do know that there have already been riots and general public disorder in Greece over the eurozone bailouts and the austerity measures? It's not necessarily doom-mongering to worry about things like this if the eurozone crisis does get even worse, especially if the people in those countries get increasingly fed up with the bullying and autocratic nature of the EU and what it, as an organisation, is doing to them.

As an Irishman (I assume?) you yourself should know this well enough what with the situation in the Republic.

I don't think they're trying to scare people on this, I just think they're being prudent and cautious.

[seanocelt]

You do know that there have already been riots and general public disorder in Greece over the eurozone bailouts and the austerity measures? It's not necessarily doom-mongering to worry about things like this if the eurozone crisis does get even worse, especially if the people in those countries get increasingly fed up with the bullying and autocratic nature of the EU and what it, as an organisation, is doing to them.

As an Irishman (I assume?) you yourself should know this well enough what with the situation in the Republic.

I don't think they're trying to scare people on this, I just think they're being prudent and cautious.


A Scotsman actually, and yes,with a keen awareness of the Greek and Eurozone issues. Scaremongering like this could cause bank runs , many people may not keep as keen an eye on events and a headline like this can cause panic, exactly what is NOT needed in any crisis. By the way, the 1st line of your reply........well, re-read and think about how condescending it comes over as.

[doreen]

... and what are the plans for the one million Brits living in Spain - one hell of an evacuation :lol:

[beerfan]

Scaremongering like this could cause bank runs , many people may not keep as keen an eye on events and a headline like this can cause panic, exactly what is NOT needed in any crisis.

It shouldn't panic them though. Just keep an eye on what's going on before you go on holiday - just common sense really. :)


well, re-read and think about how condescending it comes over as.

Wasn't intended like that but, yes, I see your point.

[seanocelt]

It shouldn't panic them though. Just keep an eye on what's going on before you go on holiday - just common sense really. :)



Wasn't intended like that but, yes, I see your point.

Myself, and others, are viewing from the expat angle, as the article was aiming at us. Big boats and planes needed! Joking aside, panic withdrawals from banks could put strain on a fragile system, and the article could provoke that. Just one newspaper trying to outdo the others but that is sometimes all it takes.

[Suej]

Myself, and others, are viewing from the expat angle, as the article was aiming at us. Big boats and planes needed! Joking aside, panic withdrawals from banks could put strain on a fragile system, and the article could provoke that. Just one newspaper trying to outdo the others but that is sometimes all it takes.

Well I for one am very edgy about it all! probably the best thing for us expats to do is keep as little as we can in the bank and invest in a good strong safe! :wink:

Added after 2 minutes:


It shouldn't panic them though. Just keep an eye on what's going on before you go on holiday - just common sense really. :)



Wasn't intended like that but, yes, I see your point.


What about us that live here? :dontknow:

[doreen]

Well I for one am very edgy about it all! probably the best thing for us expats to do is keep as little as we can in the bank and invest in a good strong safe! :wink:



Understandable viewpoint ... but with memories of Northern Rock, the more people who think that, the longer the queues to withdraw money, the more the system is under pressure ..

[Suej]

Understandable viewpoint ... but with memories of Northern Rock, the more people who think that, the longer the queues to withdraw money, the more the system is under pressure ..

Agree Doreen! but when the boot is on the other foot? I won´t be rushing to the bank to get my few quid out (sorry euros) but certainly will not keep unecessary funds in my accounts.

[TenerifePool]

Well I for one am very edgy about it all! probably the best thing for us expats to do is keep as little as we can in the bank and invest in a good strong safe! :wink:


Great idea, although probably not such a good idea to put money in the safe...

[Suej]

Great idea, although probably not such a good idea to put money in the safe...

You´re right! haven´t got enough to bother with a safe!:eyebrows:

[timmylish]

For those who do have sufficient to warrant a safe then what about internet banking with say a bank in USD? No matter what you say it will only be the end of the world, as we know it, if the Dollar goes .its up!

[TenerifePool]

For those who do have sufficient to warrant a safe then what about internet banking with say a bank in USD? No matter what you say it will only be the end of the world, as we know it, if the Dollar goes .its up!

The USD is in a WORSE situation than the euro and can only reduce further (and imho dramatically) in value. For one who is determined to leave cash in the banks, probably the safest bet would be a €uro account in Germany, German bonds or, for those who prefer their underfloor safe, forget paper "fiat" currency. Precious metals with their own intrinsic value (the Krugerrand for example) will always protect the "real" value of your savings.

[Santiago]

What about us that live here? :dontknow:

Don't worry, Suej, that is what the Forum is for - we'll all look after you, won't we folks? :hi:

[Suej]

Aww Thanks Santiago! At least I´ll have my bunk in the dungeon to go to if I become penniless! :thanx:

[timmylish]

Sorry but I disagree. Until such time that the world stops trading using USD as the currency of choice (?), oil, international trading between China/Russia and the rest of the world then I still hold the USG as the safest currency to hold. Always has been. May drop in value but it,ll still be worth something as against a defunct currency in the making, like €,s. Buying Bonds in Germany in €,s or depositing there in €,s will be worth nothing when the € drops dead! Aye, Gold etc. Have you ever tried buying any? Bloody difficult and expensive. Don,t believe everything you read on the BBC website!

[TenerifePool]

Sorry but I disagree. Until such time that the world stops trading using USD as the currency of choice (?), oil, international trading between China/Russia and the rest of the world then I still hold the USG as the safest currency to hold. Always has been. May drop in value but it,ll still be worth something as against a defunct currency in the making, like €,s. Buying Bonds in Germany in €,s or depositing there in €,s will be worth nothing when the € drops dead! Aye, Gold etc. Have you ever tried buying any? Bloody difficult and expensive. Don,t believe everything you read on the BBC website!

It is precisely because the USD has been the global reserve currency that the dollar is in danger. Many exporters are now asking for payments in other currencies add this to the levels of US debt which dwarfs that of many European debtor nations and the future of the dollar is bleak.

The German currency has been undervalued, within the €uro for a long time, great for Germany, an export economy but at the expense of other €urozone nations (like Spain) whose currency is overvalued. When the €uro (imho inevitably) breaks up consider the following four scenarios for people who have moved their Spanish €uros to Germany:

1. The €uro splits.
The “rich” €uro (Germany) rises in value, the poor €uro (Spain etc.) falls and you have made money when you bring your cash home.

2. Some poorer countries (Spain etc) leave the €uro.
The value of the €uro rises and the value of the new currencies fall and you have made money when you bring your cash home.

3. Some richer currencies (Germany etc.) leave the €uro.
The value of the new German currency rises and the €uro falls and you have made money when you bring your cash home.

4. The €uro suffers a disorderly break up.
New currencies WILL replace it, what is certain is that the new German currency will rise in value to the new Spanish currency, and you have made money when you bring your cash home. Incidentally it was reported a few weeks ago that Germany is currently printing Marks just in case.

Of course it is possible that there will be no break up, in which case your €uros will be safe in a German bank. Anyone in Spain with €uros in the bank will be well advised to move them out of the country.

Gold is currently trading at about 1600 USD per troy ounce, about 300 dollars less than at the end of the summer, and is simple and easy to buy. There are literally hundreds of online dealers although personally I would prefer to deal with a reputable dealer.

The South African Mint has authorized dealers all over the world (the Spanish one being in Barcelona) with Krugerrands selling at face value (one troy ounce) plus a markup of around five percent.

[cainaries]

Aww Thanks Santiago! At least I´ll have my bunk in the dungeon to go to if I become penniless! :thanx:

According to a similar article in the Sunday Times The Foreign Office is planning to repatriate the 1 Million British ex pats in Spain to the UK because they have pictured us all apparently lying starving and penniless in airports all over Spain. What it didn't explain was what they planned to do with us all when they got us back there but things would have to get really awful here before we went back ... and what about my British passport holding cats??

[jack oakley]

I do not believe that James Kirkup's article in the Telegraph is "scare mongering", i believe that it is both prudent and predictive. The Euro cannot survive and the money mongers who brought about last decade's banking collapse will make sure that it does'nt as they will make billions from the mayhem of its inevitable demise. Cameron's actions last week put the U.K. in the best monitary situation for 25years, many eurozone citizens are envyous of Great Brittain's freedom to control it's own financial destiny. The eurozone is a club that is owned by Germany, it had reams of countries queing up to join with the dangling carrot of getting more out than they put in, this was a short-term enticement that has backfired with disastrous consiquences. The propaganda that is being spewed out of the several heads of eurozone governments that have flurished at the expence of the nieve countries they are now in control of is now becoming painfully obvious, it will not be "armagedon" if (and when)the euro collapses, Spain has never let go of the peseta, just look at your bank statements and utility bills ! they have always stated the peseta equivalant. Every country needs to import and export and every country should have the right to choose the best comodity for the best price and not be forced into buying from wherever the German goverment make you buy it from because they own the club. The only losers will be the Germans and the French, let the euro die and let the countries that are being controlled by the euro-bullies enjoy the freedom that our fathers/mothers and grandfathers and grandmothers fought and gave their lives for. Jack.O

[seanocelt]

I do not believe that James Kirkup's article in the Telegraph is "scare mongering", i believe that it is both prudent and predictive. The Euro cannot survive and the money mongers who brought about last decade's banking collapse will make sure that it does'nt as they will make billions from the mayhem of its inevitable demise. Cameron's actions last week put the U.K. in the best monitary situation for 25years, many eurozone citizens are envyous of Great Brittain's freedom to control it's own financial destiny. The eurozone is a club that is owned by Germany, it had reams of countries queing up to join with the dangling carrot of getting more out than they put in, this was a short-term enticement that has backfired with disastrous consiquences. The propaganda that is being spewed out of the several heads of eurozone governments that have flurished at the expence of the nieve countries they are now in control of is now becoming painfully obvious, it will not be "armagedon" if (and when)the euro collapses, Spain has never let go of the peseta, just look at your bank statements and utility bills ! they have always stated the peseta equivalant. Every country needs to import and export and every country should have the right to choose the best comodity for the best price and not be forced into buying from wherever the German goverment make you buy it from because they own the club. The only losers will be the Germans and the French, let the euro die and let the countries that are being controlled by the euro-bullies enjoy the freedom that our fathers/mothers and grandfathers and grandmothers fought and gave their lives for. Jack.O

Agree with nearly every word, have the same beliefs. My point was, banner frontpage Sunday paper headlines only achieved scaring ex pats. The euro probably will implode, but bank runs are not a good thing, the innocents get burned.

[cainaries]

I know it's true that all the prices here are still shown in pesetas but I have talked to a few people who say the Spanish won't return to the peseta as it was because they will not be able to sustain the prices as shown. As soon as the peseta is re-introduced it will drop dramatically in value and everyone will be able to compare the new peseta price of a loaf of bread with the old peseta price of bread. Which would cause a lot of trouble.

I don't mean that the price of a loaf of bread won't have increased in the 10+ years since the introduction of the euro, I mean that if we reverted back to the old peseta on January 1st, a loaf of bread would cost, for example 100 pesetas on 1st January, but considerably more on 1st March.